Trader Joes Marketing Mix

“We tried it! We liked it! If you don’t, bring it back for a full refund, no questions asked.” That is the product guarantee of Trader Joe’s. ProductTrader Joes’ is a chain of grocery stores that stock many of the basic foods as well as hard to find, unusual items both local and international. They have a base of products they always carry while other products are a continuously changing mix: either rotated or simply only carried only once. It is not a one-stop store. Most of the items sold are Trader Joe’s own brand under its own private label, and they don’t carry any of the national brands. They carry high quality, socially responsible cruelty-free items that are natural or minimally processed. Their image is of a neighborhood store that is meant to be a fun and rewarding experience to customers. The stores are casual and quirky and are decorated with colorful wall art and hand painted signs in the theme of local sites and attractions. Product signs on the aisles look like cards hand written with magic markers and featured items are announced on chalkboards. Trader Joe’s are friendly and customer oriented, an image that is reinforced by their casual Hawaiian shirt uniforms (a nod to their southern California origin) and enthusiastic personnel. Staff members are knowledgeable about their products and trained to give customers as welcoming experience. To complement the ambiance of the store, the communication system in the store is the ringing of a bell instead of intercom, the music is soft and pleasant usually oldies or seasonal tunes, and the cashier scanners are barely audible.

PricePrices are kept low, particularly in comparison to stores like Whole Foods, and are either comparable or lower than the prices seen for health foods and organic products in mainstream supermarkets. It is not a bargain store nor does it carry bargain items but in the “health food” market, if Trader Joe’s carries something, chances are they...

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1. Is the supermarket industry attractive or not? What forces/factors appear to have the greatest impact on industry attractiveness?
Attractive Characteristics
Consumer demand shifting toward organic/natural grocery options, which creates market space for new entrants
Most current grocers are very similar and treat groceries as commodities in that they attempt to differentiate themselves on price alone. This means there is space for brave entrepreneurs who believe they can differentiate themselves through other means (i.e. Amazon trying online/home delivery groceries or TraderJoes)
Consumer shifting perception of valuing “one-stop-shop” grocers (i.e. large supermarkets and retail/grocers), to valuing small “quick” stop, and or specialty grocers
Opportunity to take advantage of political push for healthier foods.
Unattractive Characteristics
Traditionally operating on thin margins, increases risk for new market entrant
Extremely competitive
Majority of market competition is being squeezed to middle by dominant premium players (Whole Foods) and dominant “hard discounters” (Dollar General & Aldi)
Middle-market grocers dominated by large super markets like Wal-Mart and Target
Non-traditional grocers (discount retailers, warehouse clubs and pharmacy chains) beginning to emphasize grocery sales
Uncertain customer demands
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Trader Joe's is a privately owned grocery store that sells a variety of natural and healthy food and beverage options. Their headquarters is located in Monrovia, California and they have about 350 stores in roughly 25 states. It was started by Joe Coulombe as a Los Angeles convenience store chain in 1958, and then the company was bought in 1979 by German billionaires Karl and Theo Albrecht, who founded the ALDI food chain. Trader Joe’s competes within their niche market of organic and health food grocery stores with stores like Wild Oats and Whole Foods, as well as big grocery stores such as Hannaford, Roche Bros, and Market Basket. To keep costs down, its stores have no service departments and average about 10,000-15,000 sq. ft. The company's specialty is its line of more than 2,000 private-label products (70% of sales), including beverages, soup, snacks, and frozen items. Some observers think that sales per square foot at Trader Joe's are hovering at about $1,000 -- twice the level of typical supermarkets. Sales last year were roughly $8 billion, the same size as Whole Foods and bigger than those of Bed Bath and Beyond.
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Elements of the MarketingMix
This case will study describe the elements of the marketingmix. These four elements include product, place, price and promotion. This paper will include a description of how an organization’s marketing strategy is affected by the four elements of the marketingmix. Another aspect that this paper will include is a description of how each element is implemented in the company. One more topic that this paper will describe is the organizations name and industry in which it exists.
The marketingmix is defined as a mixture of several ideas and plans followed by a marketing representative to promote a particular product or brand. Several concepts and ideas are combined together to formulate final strategies helpful in making a brand popular amongst the masses to form the marketingmix ("MarketingMix - Meaning and Its Elements", n.d.). The elements of the marketingmix are often called the four P’s of marketing (Perreault, Cannon, & McCarthy, 2011). First, Product is defined as goods that are manufactured by organizations for the consumer. Products can be two types, tangible and intangible....

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Place
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